A new report has revealed that the draw of London is permanently ‘draining’ skilled young professionals away from the provinces, theguardian.com reports.
Research from thinktank, Centre for Cities, found that one in three 22 – 30-year-olds leaves their home town and head for the capital, never to return. As such, the report infers, this ‘brain drain’ is leaving regions beyond the South East with skills deficiencies and not making sufficient contribution to the economy.
The finding isn’t surprising given the state of the jobs market; four out of five new private sector jobs created between 2010 and 2012 arose in London. It’s therefore safe to say that recruiters will be spoiled for choice.
While the research shows that many of these ‘migrants’ move out of the city when they get married and start a family, they tend not to go far; most end up in the Home Counties.
Speaking about the report, Paul Swinney, senior economist at the Centre for Cities, told bbc.co.uk that London’s performance was good for the UK economy: “It’s one of the best performing cities in the world and from a national perspective we need to continue supporting the growth of London.
“The bigger issue is the under performance of our next largest cities, such as Sheffield and Manchester.”